Friday, May 18, 2012

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When Eduardo Saverin was 13, his family discovered that his name had turned up on a list of victims to be kidnapped by Brazilian gangs. Saverin’s father was a wealthy businessman in São Paulo, and it was inevitable that he’d attract this kind of unwanted attention. Now the family had to make a permanent decision. They hastily arranged a move out of the country. And of all the places in the world they could move to, the Saverin family saw only one option. They took their talents to Miami.

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A select group of struggling mortgage borrowers are about to get an offer that sounds too good to be true. Executives at Bank of America say they will begin mailing 200,000 letters offering certain customers mortgage principal reduction.

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